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Banks on CBN’s life support machine

Banks on CBN’s life support machine

Banks on CBN’s life support machine: From the available figures, interest rates have  ‘crashed’ to an all-time low. But, surprisingly, the lending rates are still unbelievably dangerously high. These contradictions have led many to wonder what could have been responsible for this anomaly! What this anomaly is showing is that …

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Private sector knocks FG as Buhari signs finance bill

Private sector knocks FG as Buhari signs finance bill

Private sector knocks FG as Buhari signs finance bill: The Organised Private Sector on Monday warned the government against fleecing the people and endangering productivity. They spoke in response to the signing of the Finance Bill into law by the President, Major General Muhammadu Buhari (retd.) in Abuja. The law …

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Fate of 40,000 applicants unknown as NNPC delays recruitment

Fate of 40,000 applicants unknown as NNPC delays recruitment

Fate of 40,000 applicants unknown as NNPC delays recruitment: Ten months after the Nigerian National Petroleum Corporation (NNPC) commenced a recruitment process to fill up various vacancies across different cadres in the Corporation, the fate of about 40,000 applicants who took part in the 2019 exercise remains unknown, Daily Sun investigations have …

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Banks borrow N19.6tn from CBN amid rising liquidity problems

Banks borrow N19.6tn from CBN amid rising liquidity problems

Banks borrow N19.6tn from CBN amid rising liquidity problems: Commercial banks borrowed a total of N19.64tn from the Central Bank of Nigeria in 2019, an increase of 73 per cent from the N11.36tn borrowed in 2018. All this has  raised concerns among analysts  following the  rising liquidity problems in the …

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FAAN, BA disagree over flight diversion to Accra

FAAN, BA disagree over flight diversion to Accra

FAAN, BA disagree over flight diversion to Accra: The Federal Airports Authority of Nigeria and British Airways have disagreed over the carrier’s diversion of its London-Lagos flight to Accra, Ghana, earlier in the week. British Airways had on Monday diverted its Murtala Muhammed International Airport, Lagos-bound flight to Kotoko International …

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Privatise refineries using NLNG model, PENGASSAN advises govt

Privatise refineries using NLNG model, PENGASSAN advises govt

Privatise refineries using NLNG model, PENGASSAN advises govt: The Petroleum and Natural Gas Senior Staff Association of Nigeria has advised the Federal Government to privatise the nation’s four ailing refineries using the 49/51 per cent government/private investor model adopted for the Nigerian Liquefied Natural Gas. The President, PENGASSAN, Ndukaku Ohaeri, …

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AGF withdraws $2bn tax payment case against MTN

AGF withdraws $2bn tax payment case against MTN

AGF withdraws $2bn tax payment case against MTN: MTN Nigeria Communications Plc says the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), has withdrawn the demand for N242.24bn and $1.28bn tax arrears from the company. MTN Nigeria said in a statement on Friday that its …

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Gbajabiamila to meet Malami, stakeholders over electricity tariff hike

Gbajabiamila to meet Malami, stakeholders over electricity tariff hike

Gbajabiamila to meet Malami, stakeholders over electricity tariff hike: The Speaker of the House of Representatives, Femi Gbajabiamila, has said electricity distribution companies have yet to convince  the public that estimated billing will be stopped if they increase consumption tariff. Gbajabiamila also said the National Assembly should ensure that the …

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Power generation hits 4,898.2MW

Power generation hits 4,898.2MW

Power generation hits 4,898.2MW: The total quantum of electricity generated on the national grid since the beginning of 2020 reached a peak of 4,898.2 megawatts on Wednesday, latest industry data obtained on Thursday in Abuja showed. Findings from the Federal Ministry of Power showed that the grid had opened the …

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FG slashes Enugu airport repairs cost by N1.5bn

FG slashes Enugu airport repairs cost by N1.5bn

FG slashes Enugu airport repairs cost by N1.5bn: The House of Representatives on Thursday met with the contractor handling the rehabilitation of Akanu Ibiam International Airport, Enugu State, for a timely completion of the project valued at N10bn. It was disclosed at the meeting that the Federal Government had done …

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